Advanced monitoring technology offers hope to an industry hammered by low oil prices
SAN DIEGO, November 4th, 2015 – GroundMetrics Inc., a world-leading electromagnetic survey company and oil and gas technology pioneer, was invited to participate in Saudi Aramco Ventures’ (SAEV) Innovation Zone at the upcoming Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), November 9th-12th, 2015. ADIPEC attracts seventy-five thousand attendees every year.
“ADIPEC enables us to bring the best and brightest minds to share the most sophisticated technologies, latest research, and expertise,” said H.E. Abdulla Nasser Al Suwaidi Director General at Abu Dhabi National Oil Company (ADNOC). “This dissemination of knowledge plays a pivotal role in the development and progress of the energy sector.”
The oil industry has been hit hard over the past eighteen months by low and volatile commodities prices. In response, oil and oilfield services companies have reduced spending and let go of tens of thousands of employees. But a new generation of oil technology companies like GroundMetrics is thriving despite the downturn. GroundMetrics uses its proprietary sensor systems to image reservoir fluids and help operators increase efficiency, reduce cost, and optimize production. No other method can directly track where fluid is going, a critical weakness of other popular monitoring technologies like seismic.
“Our sensors work well in desert regions and with carbonate geologies, which many survey technologies struggle with,” said George Eiskamp, CEO at GroundMetrics. “It’s just one of the boundaries our team is pushing and we are looking forward to further expanding our business in the Middle East.”
“We’re honored to participate in the SAEV Innovation Zone at ADIPEC,” said Jeff Symington, CFO at GroundMetrics. “In times of macroeconomic strife, the best oil companies leverage advanced technology to improve their bottom lines. It’s a very exciting time for energy innovation.”
GroundMetrics will be showcasing their technology at ADIPEC booth 5330. Contact Jessie Kaffai (below) for more information or to schedule a meeting.
Saudi Aramco Energy Ventures (SAEV) is the corporate venturing subsidiary of Saudi Aramco, the world’s largest fully integrated energy and petrochemical enterprise. Their mission is to invest globally in startups and high-growth companies with technologies of strategic importance to the energy industry.
GroundMetrics Inc. is a full-services survey and monitoring company and the world leader in surface-based electromagnetic sensing onshore. Its customers include oil and gas companies as well as government energy agencies. GroundMetrics uses its unique technology to eliminate blind spots underground, which increases production, improves efficiency and reduces wasted spending and capital expenditures.
CONTACT: Jessie Kaffai; email@example.com; +1-858-381-4155.